Valtris Specialty Chemicals, a leading global manufacturer of a comprehensive portfolio of specialty additives, announced the successful closing of the previously announced sale of its Champlor Renewables business located in Baleycourt, France to Avril Industrie.

Champlor Renewables specializes in rapeseed crushing, refining, and biodiesel production. Located in the heart of one of France’s main rapeseed-growing regions, the business processes approximately 400,000 tons of seeds per year.

“We are pleased to complete this transaction with Avril,” said Mike McGaugh, CEO, Valtris Specialty Chemicals. “The closing represents a key milestone in our efforts to focus on the core of our portfolio as a global leader in specialty performance additives. This divestiture simplifies our portfolio and operations, and strengthens our ability to continue to invest in growth and innovation as we advance our mission to be a world class partner to our customers.”

“I would like to thank the Champlor Renewables team for its commitment. We are pleased to have found a strategic fit for the business, which is in the best interests of our employees, customers and suppliers. At the same time, we are excited to build on our strong heritage and 75-year history of leadership in our core polymer end-use applications.”

Valtris will continue to own and operate its specialty additives business co-located at the Baleycourt site, which provides value-added sustainable solutions to polymer end-use applications in a variety of industries such as coatings, adhesives, sealants and functional fluids.

Lazard served as a financial advisor to Valtris, and Latham & Watkins LLP acted as legal counsel.